1. ink of a somewhat differentiated good or service that you can buy locally in any number...

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1. ink of a somewhat differentiated good or service that you can buy locally in any number of different places—for example, a gallon of gasoline or a cup of coffee. Do you observe differences in prices? What differences might lead to these variations in prices? (Or is the assumption of perfect information violated? Does everyone know where the eapest version can be found?) What examples of nonprice competition can you identify among the various sellers?

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